Missing Endorsements; No Restrictive Endorsements Allowed. If you deposit an item payable to you, a joint accountholder, or both joint accountholders without endorsing it, we may supply the missing endorsements for you or treat the item as if we had endorsed it for you. Regardless, we will send the item for collection and the effect will be as if you had endorsed the item. Any conditional or restrictive endorsements, other than as provided in Section 5.07, on an item or check you deposit, or by any endorsing “without recourse” or similar restrictions, will not affect our ability to send the item for payment. Refusing Deposits We may refuse to accept any item for deposit, or part of any deposit items, at any time (including after we initially accepted it for deposit). If we refuse a deposit of an item, we still may send it to the paying bank but will not credit your HMBradley Account until we have collected funds from the paying bank. We can reverse any amount we credited to your account balance for a deposited item and send the item on a “collection basis” even after we have taken physical possession of the item. We will not be liable to you for refusing a deposit, even if we decline debit transactions you have already made. Returned Items If you deposit an item and either: (1) the paying bank returns it to us unpaid; (2) the paying bank or the issuer of an item demands that we repay them because the item was altered, forged, or unauthorized, is missing a signature or endorsement, or has a forged endorsement; or (3) the sending bank or the originator of an item demands that we return the item because it was unauthorized, sent to the wrong account number, or procured by fraud, we may pay the return item or comply with the demand, and deduct the funds from your account balance. If we believe these events have occurred or may occur or that the item should not have been paid or may not be paid for any other reason, we may place a hold on the funds or move them to a non-customer account until we determine who is entitled to them. If a deposited item is returned to us for any reason, we will charge you the Deposited Item Return Fee set out in the Fee Schedule. Cut-Off Time We set 7:00 p.m. ET as the cut-off time for deposits by ACH transfer and remote check deposit; the wire transfer cut-off time is 2:00 p.m. ET. Any deposits received after that time will be considered made the next business day. Deposit Receipts We will confirm the funds you deposit and, after review, may adjust your HMBradley Account for any errors.
